Dairy Farm late-2022 update (DFI SP)

Health & beauty benefitting from a HK-China border reopening but weaker post-COVID grocery profits. Estimated reading time: 14 minutes

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Summary

• I first wrote about Dairy Farm in January 2021. Since then, the stock price has dropped another 42%.

• The primary culprits are continued COVID-19-related lockdowns, HK-mainlan…